Publix Super Markets is having a particularly good week following its solid third quarter earnings on Wednesday and a handful of new store openings.
Publix reported strong sales results for the quarter of $14 billion—a 7.2% increase from $13 billion in 2022. Same-store sales grew 4.3%. The employee-owned Florida grocer's net earnings also took a big jump during the quarter to $833 million—up 111.4% versus a year ago.
Unit growth has also been an area of focus for the grocer. On Wednesday, Publix opened new stores in Greenville, South Carolina, at 5000 Old Buncombe Road and Irondale, Alabama, at 1288 Grants Mill Road.
On Thursday, Publix reopened its store at Hernando West Plaza in Spring Hill, Florida. The 46,791 square-foot newly renovated store will offer departments for grocery, dairy, frozen food, seafood, meat and fresh produce as well as a full-service bakery, deli, pharmacy.
“We are excited to reopen this location for our customers in Spring Hill,” said Hannah Herring, Publix media relations manager, in a statement. “We look forward to welcoming new and existing customers and providing them with premier service and quality products.”
Kentucky is next on the grocer's agenda as it expands its geographic footprint. Publix launched a Hello, Kentucky website earlier this year for those interested in staying up to date with the details of the highly anticipated 55,701-square-foot store in the Terra Crossing Shopping Center in Louisville that's slated to open later this year. Located in Jefferson County at 2500 Terra Crossing Blvd., the new store will mark Publix’s expansion into its eighth state.
“Moving into Kentucky is a natural progression for our company, and we are excited to serve and be a part of this vibrant community,” Todd Jones, CEO of Publix, said in a statement announcing the grocer’s entrance into this new market.
In other news, last week three former employees of Publix filed a collective action lawsuit in Florida's Middle District Federal Court against the grocery retailer over alleged off-the-clock work. The plaintiffs allege Publix owes them overtime pay for these off-the-clock hours, which included time spent doing tasks in the supermarkets before clocking in and after clocking out.
In an email to Winsight Grocery Business Publix said it “takes the claims seriously and will respond appropriately.” The grocer added, “As a practice, Publix does not comment on pending litigation. However, due to the nature of the claims involved, we find it necessary to respond. As an associate-owned company, we are proud to provide our associates with a comprehensive benefits package–including company ownership–in addition to paying our associates in accordance with the law.”
As the country's largest employee-owned grocer, Publix has more than 250,000 associates on its payroll and operates 1,354 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia.